Saudi Airlines Catering Company reports double digit profits growth in 2Q2013 and 1H2013

Saudi Airlines Catering Company reported (18-Jul-2013) the following financial highlights:

• Three months ended 30-Jun-2013:
• • Operating profit: SAR157.4 million (USD42.0 million), +10.5% year-on-year;
  • Net profit: SAR168.0 million (USD44.8 million), +17.4%;
• Six months ended 30-Jun-2013:
• • Operating profit: SAR296.4 million (USD79.0 million), +20.0%;
  • Net profit: SAR308.7 million (USD82.3 million), +24.0%;
  • Earnings per share: SAR3.77 (USD1.01), +24.0%. [more - original PR]

The company attributes the result to the increase in the number of passengers and flights as well as an increase in the company's business in the non airline catering sector, and the high proportion of income from the first and business class lounges.